Business
Now, Africa Trade Begins!’ Alawuba Says as UBA Launches PAPSS Transaction on LEO Chatbot
Now, Africa Trade Begins!’ Alawuba Says as UBA Launches PAPSS Transaction on LEO Chatbot
In a bold move that cements its position as a digital trailblazer on the continent, Africa’s Global Bank, United Bank for Africa (UBA) Plc, has launched the successful integration of the Pan-African Payment and Settlement System (PAPSS) into its AI-powered chatbot, LEO.
With this milestone, UBA becomes the first financial institution to enable cross-border payments on a chatbot platform in Africa, enabling instant, seamless, and secure transactions in local currencies between African countries.
At the press conference announcing the official launch event which was held at the UBA Head Office, Lagos on Wednesday, the UBA and PAPPS took media men through the journey which had culminated in the partnership aimed at deepening intra-African trade, digitising and aiding seamless transactions across the continent.
UBA’s Group Managing Director/Chief Executive Officer, Oliver Alawuba, who welcomed the PAPPS team and the media practitioners, described the event as a momentous one for the bank and a significant leap in the realisation of intra-African trade.
Alawuba said; “For us, this is what UBA is all about – connectivity and easing transactions. With PAPSS now fully integrated on our LEO platform, we are not just simplifying payments – we are breaking down the barriers to economic collaboration across African markets and allowing Africans to be able to transact using their own local currencies. This is aligned with our vision of being at the heart of Africa’s economic transformation, and so, I say, Now, Africa trade begins!!!”
He emphasised that as the future of Africa, lies with the youth, UBA as a bank continues to seek ways to support the youth to grow the economy, adding that the integration of PAPPS on the LEO Platform is one of such ways.
In his submission, the Chief Executive Officer, PAPPS, Mark Ogbalu III, who commended UBA for being an excellent partner with Afrexim bank and PAPPS on their Pan-African journey towards enabling trade on the continent, explained that UBA was one of the first financial institutions to enter into PAPPS.
Ogbalu said, “Indeed, PAPPS has had an excellent run with UBA, which has now extended from carrying out these transactions from their branches to digital platforms and channels such as LEO. By this, customers can send and receive their monies within seconds. This of course has an accelerated impact on trade as there is now an interplay between convenience and seamless transacting.
“Before now, Africa intra-trade used to be very low and limited, but this product and service has come to address this and we are already seeing a lot of impact with this product,” he noted.
UBA Head, Retail and Digital Banking, Shamsideen Fashola, explained that the innovation means UBA customers can now experience truly borderless banking on a platform they already trust.
“The recent deployment of PAPSS on our LEO Chatbanking platform is a bold step in that direction. With this, UBA becomes the First Bank in Africa to power cross-border payments through a chatbot, reinforcing our digital leadership and setting a new benchmark in financial services across the continent,” he said.
According to him, Early data already shows promising adoption, especially in the Ghana-Nigeria corridor, and the bank remains committed to deepening awareness and driving even more value for customers across our markets.
“This collaboration is a transformational move that simplifies payments, empowers traders, supports families, and unlocks economic potential in line our goals,” he added.
United Bank for Africa is one of the largest employers in the financial sector on the African continent, with 25,000 employees group wide and serving over 45 million customers globally. Operating in twenty African countries and the United Kingdom, the United States of America, France and the United Arab Emirates, UBA provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.
Nigeria’s Inflation Drops to 15.10% as NBS Reports Deflationary Trend
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Nigeria’s headline inflation rate declined to 15.10 per cent in January 2026, marking a significant drop from 27.61 per cent recorded in January 2025, according to the latest Consumer Price Index (CPI) report released by the National Bureau of Statistics.
The report also showed that month-on-month inflation recorded a deflationary trend of –2.88 per cent, representing a 3.42 percentage-point decrease compared to December 2025. Analysts say the development signals easing price pressures across key sectors of the economy.
Food inflation stood at 8.89 per cent year-on-year, down from 29.63 per cent in January 2025. On a month-on-month basis, food prices declined by 6.02 per cent, reflecting lower costs in several staple commodities.
The data suggests a sustained downward trajectory in inflation over the past 12 months, pointing to improving macroeconomic stability.
The administration of President Bola Ahmed Tinubu has consistently attributed recent economic adjustments to ongoing fiscal and monetary reforms aimed at stabilising prices, boosting agricultural output, and strengthening domestic supply chains.
Economic analysts note that while the latest figures indicate progress, sustaining the downward trend will depend on continued policy discipline, exchange rate stability, and improvements in food production and distribution.
The January report provides one of the clearest indications yet that inflationary pressures, which surged in early 2025, may be moderating.
Alpha Morgan to Host 19th Economic Review Webinar
In an economy shaped by constant shifts, the edge often belongs to those with the right information.
On Wednesday, February 25, 2026, Alpha Morgan Bank will host the 19th edition of its Economic Review Webinar, a high-level thought leadership session designed to equip businesses, investors, and individuals with timely financial and economic insight.
The session, which will hold live on Zoom at 10:00am WAT and will feature economist Bismarck Rewane, who will examine the key signals influencing Nigeria’s economic direction in 2026, including policy trends, market movements, and global developments shaping the local landscape.
With a consistent track record of delivering clarity in uncertain times, the Alpha Morgan Economic Review continues to provide practical context for decision-making in a dynamic environment.
Registration for the 19th Alpha Morgan Economic Review is free and can be completed via https://bit.ly/registeramerseries19
It is a bi-monthly platform that is open to the public and is held virtually.
Visit www.alphamorganbank to know more.
GTBank Launches Quick Airtime Loan at 2.95%
Guaranty Trust Bank Ltd (GTBank), the flagship banking franchise of GTCO Plc, Africa’s leading financial services group, today announced the launch of Quick Airtime Loan, an innovative digital solution that gives customers instant access to airtime when they run out of call credit and have limited funds in their bank accounts, ensuring customers can stay connected when it matters most.
In today’s always-on world, running out of airtime is more than a minor inconvenience. It can mean missed opportunities, disrupted plans, and lost connections, often at the very moment when funds are tight, and options are limited. Quick Airtime Loan was created to solve this problem, offering customers instant access to airtime on credit, directly from their bank. With Quick Airtime Loan, eligible GTBank customers can access from ₦100 and up to ₦10,000 by dialing *737*90#. Available across all major mobile networks in Nigeria, the service will soon expand to include data loans, further strengthening its proposition as a reliable on-demand platform.
For years, the airtime credit market has been dominated by Telcos, where charges for this service are at 15%. GTBank is now changing the narrative by offering a customer-centric, bank-led digital alternative priced at 2.95%. Built on transparency, convenience and affordability, Quick Airtime Loan has the potential to broaden access to airtime, deliver meaningful cost savings for millions of Nigerians, and redefine how financial services show up in everyday life, not just in banking moments.
Commenting on the product launch, Miriam Olusanya, Managing Director of Guaranty Trust Bank Ltd, said: “Quick Airtime Loan reflects GTBank’s continued focus on delivering digital solutions that are relevant, accessible, and built around real customer needs. The solution underscores the power of a connected financial ecosystem, combining GTBank’s digital reach and lending expertise with the capabilities of HabariPay to deliver a smooth, end-to-end experience. By leveraging unique strengths across the Group, we are able to accelerate innovation, strengthen execution, and deliver a more integrated customer experience across all our service channels.”
Importantly, Quick Airtime Loan highlights GTCO’s evolution as a fully diversified financial services group. Leveraging HabariPay’s Squad, the solution reinforces the Group’s ecosystem proposition by bringing together banking, payment technology, and digital channels to deliver intuitive, one-stop experiences for customers.
With this new product launch, Guaranty Trust Bank is extending its legacy of pioneering digital-first solutions that have redefined customer access to financial services across the industry, building on the proven strength of its widely adopted QuickCredit offering and the convenience of the Bank’s iconic *737# USSD Banking platform.
About Guaranty Trust Bank
Guaranty Trust Bank (GTBank) is the flagship banking franchise of GTCO Plc, a leading financial services group with a strong presence across Africa and the United Kingdom. The Bank is widely recognized for its leadership in digital banking, customer experience, and innovative financial solutions that deliver value to individuals, businesses, and communities.
About HabariPay
HabariPay is the payments fintech subsidiary of GTCO Plc, focused on enabling fast, secure, and accessible digital payments for individuals and businesses. By integrating payments and digital technology, HabariPay supports innovative services that make everyday financial interactions simpler and more seamless.
Enquiries:
GTCO
Group Corporate Communication
[email protected]
+234-1-2715227
www.gtcoplc.com
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